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Chaos on Twitter, millions of dollars in damage / Twitter is at risk of bankruptcy

2022-11-13 08:19:34Kosova&Bota SHKRUAR NGA REDAKSIA VOX

Chaos on Twitter, millions of dollars in damage / Twitter is at risk of

Shortly after the purchase of the short message service Twitter for an amount of 44 billion dollars, billionaire Elon Musk does not rule out the possibility of bankruptcy of this online platform. According to the media, during a meeting with Twitter employees, Elon Musk warned, that next year in the budget of this company there may be losses of billions of dollars and if the company does not earn more money than it spends, bankruptcy is inevitable.

Twitter had started posting losses recently before Elon Musk's takeover. After the acquisition, Musk complained about a drop in revenue, as several major companies reduced the amount of advertising or stopped it altogether. The companies expressed concern that if Twitter relaxes its content rules, as Elon Musk predicts, their ads could appear alongside inappropriate news stories. The text messaging service also has about $13 billion in debt that Elton Musk borrowed to buy it.

"bad" condition

In a recent email to employees, Musk wrote that the economic situation is "bad," especially for a company that depends on advertising revenue. So far these account for about 90 percent of Twitter's revenue. To generate more revenue Twitter will offer a subscription model with the coveted Twitter verification token.

The company according to Elon Musk also has many employees. Last week, he announced that he would cut the number of jobs at Twitter in half, which currently employs 7,500 people.

Chaos with the Twitter sign

Twitter's coveted verification token has so far only been allowed to be used by celebrities, politicians and companies - after the proper verification process was carried out. Now that the verification token can be purchased by anyone who pays eight dollars a month, Musk has received a strong warning from the US Consumer Protection Agency FTC. "We are following the recent developments on Twitter with great concern," an FTC spokesperson said. No company or its boss is above the law.

Some users used the new offer to create fake accounts impersonating former US President Donald Trump, basketball star LeBron James and gaming company Nintendo.

The pharmaceutical company Eli Lilly also became a victim of fake news from such accounts, which apologized to Twitter users who, through a message from a fake account, had received the news that in the future insulin would be distributed without payment./DW


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